May 21st, 20180PAO Novatek, Russia’s largest independent gas production and sales company, has created a transportation subsidiary names Maritime Arctic Transport.
The purpose of the new subsidiary is to manage and optimise transportation costs, build up Arctic navigation competencies and ensure centralised management of its Arctic...
April 18th, 20180A month after Russian oil product supplier Amurskaya Neftebaza made headlines for ordering a 4,500 dwt tanker at China's Dajin Heavy Industry for $7m, the company’s name has cropped up again, and this time behind a much larger order.
According to broking sources, the outfit is diversifying its interest in shipping, ordering six...
April 12th, 20180Russia food and ingredients supplier Aston has placed an order at China’s Dajin Heavy Industries for the construction of two 8,000 dwt bulk carriers.
The total price for the two vessels is $18.72m and delivery is scheduled in 2020.
Aston is one of Russia’s largest producers of foodstuffs and ingredients, and is also involved in...
April 3rd, 20180The Russian authorities have arrested billionaire Ziyavudin Magomedov, a key player in Russia’s transport sector, on charges of embezzling over $35m of federal budgets.
Magomedov is the owner of trading and investment company Summa Group, which owns controlling stakes in Fesco Transportation Group, the Commercial Port of...
March 20th, 20180Russian oil product supplier Amurskaya Neftebaza has placed an order at China’s Dajin Heavy Industry, a subsidiary yard of Shanghai Bestway Enterprise Development, for the construction of a 4,500 dwt oil tanker.
The price of the vessel is $7.164m, and delivery is scheduled in 2019.
Amurskaya Neftebaza mainly operates in the oil...
March 2nd, 201831Russian president Vladimir Putin has sought to increase traffic along the Northern Sea Route tenfold by 2025.
Delivering his state-of-the-nation speech to parliament on Thursday, Putin highlighted the importance of speeding up infrastructure development along the nation’s Arctic coastline.
“The Northern Sea Route will be the key...
February 26th, 20180The UTLC Eurasian Rail Alliance, a China - Europe rail container service provider, is looking to further expand its service network in 2018 in order to meet the growing demand in the region.
The alliance was jointly established by Russian Railways, the National Union Belarusian Railway and National Company Kazakhstan Temir Zholy in...
February 21st, 20180Sovcomflot has signed time-charter agreements with Shell for two dual-fuelled aframax tankers.
The vessels are part of a series of six Sovcomflot tankers currently under construction and due for delivery between the second half of this year and early next year. The two tankers will be on time charter to Shell for up to 10 years, with...
February 13th, 20180Russia’s biggest lender Sberbank and the country’s largest shipping company Sovcomflot have signed a 14-year project finance agreement worth $106m.
The money will be used for building an Arctic shuttle tanker, which will be used for the Novy Port project under a long-term agreement with Gazprom.
"Investing in major projects on...
January 24th, 20181The Prime Shipping Foundation -an open-source project by Gibraltar-based Quorum Capital and shipbroker Interchart – has revealed it was behind the world’s first freight deal settled in Bitcoin.
Executed last month on a vessel carrying wheat from Russia to Turkey, the financial transaction was a trial ahead of a roll out of services...
